Growth Through Successful Exploration and Drilling Strategies
November 13, 2008 NEWS RELEASE
Nordic Oil and Gas Ltd. Announces Private Placement Offering of Debentures
For Immediate Release
This press release is not for dissemination in the United States or for distribution to U.S. news wire services
WINNIPEG, MB (November 13, 2008). Mr. Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (the “Corporation”), today announced the intention of the Corporation to undertake a private placement offering (the “Offering”) of up to $2,500,000 principal amount of 2-year 8% convertible debentures (the “Debentures”). The Debentures will have a term of two years and shall bear interest at a rate of 8% per annum. The Debentures may be converted at the option of the Debenture holders into Class A common shares of the Corporation at a price of $0.12 per share at any time after the issuance of the Debentures.
Certain persons will assist the Corporation by introducing potential subscribers for the Offering and will be paid a finder’s fee of up to 8% of the total subscription proceeds received from subscribers introduced by each particular person. No broker warrants will be issued in connection with the Offering.
The proceeds of this Offering will be used for non-flow-through development drilling and
general corporate purposes.All the terms of the Offering are subject to the approval of the TSX Venture Exchange.
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the exploration and development of oil, natural gas and Coal Bed Methane in Alberta and Saskatchewan. The Corporation is listed on the TSX Venture Exchange and trades under the symbol NOG. Nordic is one of the “2008 TSX Venture 50” companies, a ranking of the top 10 public venture capital companies in five industry sectors listed on the TSX Venture Exchange.
The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of the contents of this News Release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploration and drilling success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
For additional information, contact:
Donald Benson Don Bain
Chairman & CEO Corporate Secretary
Nordic Oil & Gas Ltd. Nordic Oil and Gas Ltd.
Tel: 204-956-5042 Tel. 204-229-7751
Fax: 204-897-7154 Fax. 204-943-1829
E-mail: dbenson57@shaw.ca E-mail: donbain1@mts.net
